KPMG Enters The Metaverse, Invests $30M On Web3 Training

  • June 29, 2022

KPMG, one of the Big Four accounting firms in the US, is the latest to foray into the metaverse space. KPMG in the US and Canada have together opened the first KPMG metaverse collaboration hub. This comes as an effort from both firms to help their employees and clients pursue Web3 opportunities. Let’s take a closer look into what KPMG’s metaverse move is all about.

A man with VR glasses exploring the metaverse
KPMG is the latest to make a metaverse move. Credit: Freepik

About KPMG’s metaverse move 

KPMG’s metaverse collaboration hub, set up jointly by KPMG in the US and Canada, is the first such initiative from the accounting firm. The hub will serve as a space for employees, clients, and communities to come together and explore growth opportunities across sectors. 

Further, this year, the two firms are investing $30 million in Web3 experiences. Of this, the metaverse hub is the “signature piece.” Moreover, the hub will focus on education, collaboration, training, events, and workshops, reported Fortune.  

“Launching a collaborative space in the metaverse is a natural evolution in our journey as an innovation-driven firm,” said Elio Luongo, CEO and senior partner at KPMG Canada. “The world has changed drastically over the last few years, and our people and clients are interested in exploring new ways of working. This offers them a new immersive space to exchange ideas.”

Already, the two firms have set up dedicated teams to help their clients with their own metaverse strategies. In addition, they will co-create new tools and solutions as they continue to explore Web3 opportunities. They will also launch “immersive” learning and development platforms as well as recruit new teams to help navigate the Web3 space. 

KPMG Canada's world of women NFT
KPMG Canada bought a WoW NFT in March.

KPMG’s Web3 journey so far

KPMG, both in the US and Canada, have been steadily launching Web3 initiatives. For instance, back in March this year, KPMG Canada bought a World of Women NFT. The firm has also added Ethereum and Bitcoin to its corporate treasury. Meanwhile, KPMG US has incorporated NFT and crypto training while onboarding new employees. 

Many major companies, both from the crypto space and mainstream industries, have been investing heavily in Web3 and the metaverse. Amid this, KPMG is the latest to follow suit. As one of the  Big Four Accounting firms, KPMG’s metaverse move spells big things for the Web3 space. We can likely expect more companies and brands from across industries to hop on the bandwagon.

As Cliff Justice, KPMG US’ leader of Enterprise Innovation noted, “The metaverse and Web 3.0 represent the next generation of the internet and will reshape the way businesses and consumers engage, transact, socialize and work. Business leaders are looking to move quickly past exploratory phases and deploy solutions to train employees, engage customers and extend their brand in this new market.”

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